Brokerages Set Blackstone Secured Lending Fund (NYSE:BXSL) Price Target at $29.43

Shares of Blackstone Secured Lending Fund (NYSE:BXSL) have been assigned a consensus rating of “Moderate Buy” from the eight research firms that are covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $29.4286.

A number of research firms have weighed in on BXSL. Wall Street Zen raised Blackstone Secured Lending Fund from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Royal Bank Of Canada cut their price objective on shares of Blackstone Secured Lending Fund from $32.00 to $29.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 12th. Zacks Research upgraded shares of Blackstone Secured Lending Fund from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. B. Riley lowered their price target on shares of Blackstone Secured Lending Fund from $32.00 to $30.00 and set a “buy” rating on the stock in a research note on Wednesday, November 12th. Finally, JPMorgan Chase & Co. cut their price target on shares of Blackstone Secured Lending Fund from $30.50 to $29.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 1st.

Insider Activity

In related news, insider Robert J. Bass acquired 3,760 shares of the business’s stock in a transaction dated Monday, October 6th. The stock was bought at an average price of $26.63 per share, with a total value of $100,128.80. Following the acquisition, the insider owned 21,167 shares in the company, valued at $563,677.21. This represents a 21.60% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Blackstone Secured Lending Fund

Large investors have recently added to or reduced their stakes in the company. Moors & Cabot Inc. increased its position in Blackstone Secured Lending Fund by 67.0% during the third quarter. Moors & Cabot Inc. now owns 24,878 shares of the company’s stock worth $649,000 after buying an additional 9,979 shares during the last quarter. Lazard Asset Management LLC boosted its stake in shares of Blackstone Secured Lending Fund by 87.2% during the 3rd quarter. Lazard Asset Management LLC now owns 43,126 shares of the company’s stock worth $1,124,000 after acquiring an additional 20,093 shares during the period. Two Sigma Investments LP boosted its stake in shares of Blackstone Secured Lending Fund by 56.7% during the 3rd quarter. Two Sigma Investments LP now owns 564,699 shares of the company’s stock worth $14,722,000 after acquiring an additional 204,252 shares during the period. Marshall Wace LLP increased its holdings in shares of Blackstone Secured Lending Fund by 1,160.9% during the 3rd quarter. Marshall Wace LLP now owns 869,964 shares of the company’s stock worth $22,680,000 after acquiring an additional 800,969 shares during the last quarter. Finally, Corient Private Wealth LLC raised its stake in Blackstone Secured Lending Fund by 168.0% in the 2nd quarter. Corient Private Wealth LLC now owns 50,665 shares of the company’s stock valued at $1,558,000 after acquiring an additional 31,763 shares during the period. Institutional investors and hedge funds own 36.49% of the company’s stock.

Blackstone Secured Lending Fund Trading Up 1.1%

BXSL opened at $26.85 on Tuesday. The stock has a market capitalization of $6.21 billion, a P/E ratio of 10.09 and a beta of 0.42. Blackstone Secured Lending Fund has a 12 month low of $24.85 and a 12 month high of $34.64. The firm’s fifty day simple moving average is $26.54 and its 200 day simple moving average is $29.39.

Blackstone Secured Lending Fund (NYSE:BXSL) last issued its quarterly earnings results on Monday, November 10th. The company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.02. The company had revenue of $358.56 million for the quarter, compared to analyst estimates of $353.55 million. Blackstone Secured Lending Fund had a return on equity of 11.85% and a net margin of 42.38%. On average, equities research analysts predict that Blackstone Secured Lending Fund will post 3.54 EPS for the current fiscal year.

Blackstone Secured Lending Fund Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 23rd. Shareholders of record on Wednesday, December 31st will be given a dividend of $0.77 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $3.08 annualized dividend and a dividend yield of 11.5%. Blackstone Secured Lending Fund’s payout ratio is 115.79%.

Blackstone Secured Lending Fund Company Profile

Blackstone Secured Lending Fund is business development company and a Delaware statutory trust formed on March 26, 2018, and structured as an externally managed, non-diversified closed-end investment Fund. On October 26, 2018, the fund elected to be regulated as a business development company (BDC) under the Investment Company Act of 1940, as amended (the 1940 Act).